- BlueRock Diamonds posts operating losses of £241,000 for the period from 11 October 2012 to the end of June.

Chairman Paul Beck said that since incorporation, the company has been focussed on evaluating investments in the diamond mining sector in and around Kimberley, the historic centre of diamond mining in South Africa.

He said: "This process culminated in September 2013, when the group acquired a 74% stake in the Kareevlei Tenements, which comprises a mining licence and certain plant (together KT) for a total of ZAR4m; the other 26% is owned by our Black Empowerment Partner. The transfer of the mining licence is subject to approval from the Department of Mineral Resources in South Africa ( and we hope to get such approval in the first half of 2014. In the meantime, under our agreement with the seller of KT, we are in the process of site establishment prior to commencing mining operations."

At 8:18am: [LON:BRD] share price was -0.25p at 11p

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